https://www.taxtmi.com/caselaws?id=288364 The Appellate Tribunal dismissed the appeal filed by the Managing Director of the Corporate Debtor against the order admitting an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, due to a delay of 360 days in filing the appeal. The Tribunal emphasized that despite the intention to settle the claim with the Operational Creditor and the amount being deposited with the High Court, the delay could not be condoned. The decision reiterated the strict adherence to statutory timelines in insolvency proceedings and limited the Tribunal's discretion to extend filing periods beyond the specified limits. en-us Wed, 07 Aug 2019 00:00:00 +0530 Tue, 02 Jun 2020 22:27:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=288364 The Appellate Tribunal dismissed the appeal filed by the Managing Director of the Corporate Debtor against the order admitting an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, due to a delay of 360 days in filing the appeal. The Tribunal emphasized that despite the intention to settle the claim with the Operational Creditor and the amount being deposited with the High Court, the delay could not be condoned. The decision reiterated the strict adherence to statutory timelines in insolvency proceedings and limited the Tribunal's discretion to extend filing periods beyond the specified limits. Case-Laws Insolvency and Bankruptcy Wed, 07 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=288364